On January 12th, international crude oil futures rose. The settlement price of the February WTI crude oil futures contract in the United States was $59.50 per barrel, an increase of $0.38 or 0.6%. The settlement price of Brent crude oil futures for March was $63.87 per barrel, an increase of $0.53 or 0.8%.
International crude oil futures prices rose by 0.6% -0.8%, reflecting the expectation of tight market supply and demand, which will directly push up crude oil spot prices due to cost support and increased demand expectations.
The rise in crude oil prices increases the production cost of diesel. As a downstream finished oil, the cost transmission effect will support the upward trend of diesel spot prices, which is beneficial for market supply and demand balance.
Gasoline, as a direct derivative product of crude oil, the increase in crude oil costs will drive up the spot price of gasoline. The demand side is supported by transportation and industrial activities, which is favorable for the price trend.
As a petrochemical product, the increase in crude oil raw material costs for PVC may slightly push up spot prices, but the impact is indirect and requires attention to changes in downstream construction and packaging demand, with limited positive effects.
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